Martin Marietta Materials, Inc. (NYSE:MLM) Given Average Rating of “Moderate Buy” by Brokerages

Martin Marietta Materials, Inc. (NYSE:MLM) has earned a consensus rating of “Moderate Buy” from the sixteen research firms that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $599.62.

Several equities research analysts recently commented on MLM shares. Truist Financial cut their price objective on shares of Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Raymond James cut their price target on Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Loop Capital decreased their price objective on Martin Marietta Materials from $645.00 to $615.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. Stifel Nicolaus began coverage on Martin Marietta Materials in a research note on Tuesday, March 4th. They issued a “buy” rating and a $559.00 target price on the stock. Finally, Citigroup decreased their price target on shares of Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating for the company in a research note on Monday, January 6th.

Insiders Place Their Bets

In other news, EVP Donald A. Mccunniff sold 1,332 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $475.00, for a total transaction of $632,700.00. Following the completion of the sale, the executive vice president now owns 3,523 shares in the company, valued at approximately $1,673,425. This trade represents a 27.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Michael J. Petro purchased 550 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average price of $454.37 per share, for a total transaction of $249,903.50. Following the purchase, the senior vice president now owns 8,985 shares in the company, valued at $4,082,514.45. The trade was a 6.52 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Martin Marietta Materials

Several hedge funds have recently bought and sold shares of MLM. Franklin Street Advisors Inc. NC increased its stake in shares of Martin Marietta Materials by 15.5% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 25,242 shares of the construction company’s stock worth $13,037,000 after purchasing an additional 3,384 shares during the period. Sanctuary Advisors LLC increased its position in Martin Marietta Materials by 18.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 8,220 shares of the construction company’s stock worth $4,914,000 after buying an additional 1,286 shares during the period. RMR Wealth Builders lifted its holdings in shares of Martin Marietta Materials by 431.3% during the fourth quarter. RMR Wealth Builders now owns 2,391 shares of the construction company’s stock worth $1,235,000 after buying an additional 1,941 shares in the last quarter. InTrack Investment Management Inc lifted its holdings in shares of Martin Marietta Materials by 33.9% during the fourth quarter. InTrack Investment Management Inc now owns 3,446 shares of the construction company’s stock worth $1,784,000 after buying an additional 872 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in shares of Martin Marietta Materials by 24.6% in the fourth quarter. Fifth Third Bancorp now owns 7,005 shares of the construction company’s stock valued at $3,618,000 after acquiring an additional 1,382 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Down 1.4 %

Shares of Martin Marietta Materials stock opened at $492.02 on Friday. The company has a market capitalization of $30.00 billion, a P/E ratio of 15.22, a price-to-earnings-growth ratio of 4.45 and a beta of 0.81. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. The business has a 50-day moving average of $487.86 and a two-hundred day moving average of $532.98. Martin Marietta Materials has a 1 year low of $441.95 and a 1 year high of $633.23.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. As a group, equities analysts predict that Martin Marietta Materials will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date was Monday, March 3rd. Martin Marietta Materials’s payout ratio is currently 9.77%.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.